1940 (4) TMI 29

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..... IRE, J. JUDGMENT DERBYSHIRE, J. I am of the opinion that the losses here claimed are losses of the old business. They were losses incurred because of dealings of the old firm and not of .....

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..... . In so far as smaller sums of nominal debts are realised, it seems to me that losses so sustained are losses of capital and not trading losses. In my opinion this rule must be discharged with cost .....

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